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ORDINANCE No. 1014 <br />By Mr. Macnn <br />AN ORDINANCE TO PROVIDE FOR THE ISSUE OF p NOTE IN <br />ANTICIPATION OF TNE LEVY OF SPECIA7. ASSESMIENTS AND <br />IN ANTICIPATION OF THE ISSUANCE OF BONDS IN ANTICIPATION <br />OF THE COLLECTION OF SPECIAI. ASSESSMENTS FOR THE .. . <br />IPIPROVIIMg'NT OF. S(M CENTER ROAD <br />W1iL+REAS, the Council of the Village of Mayfield, Ohio, has heretofore <br />by legislation declare3 the necessity of improving the Easterly side of S(ki <br />Center Road by the construction and installation of a sidewalk'and appurtenances. <br />NOW THEREFORE, BE IT ORDpINED BY THE COUNCIL OF THE VILLAGE OF MAYFIELD, <br />CUYAHOGA COUNTY OHIO, THAT; _ .- ?. - • <br />Sec. 1. That it is hereby declared necessary to issue bonds of the <br />Village of Liayfield in the sun of $ 1,590.00 for the pUrpose of raising money <br />in anticipation of the collection of special assessments for the improvement <br />of the Easterly side of SC+S Center Road in the Village of Mayfield, Ohio, fra¢ <br />a poittt 197 feet North of the intersection of the center lines of SOM Center <br />Road and Wilson Mills Road to the Southerly line of Sandalwood Road, tiy the <br />construction and installation of a sidewalk and appurtenances, as,ptovided:"in <br />Besolution No. 690 adopted October 17, 1966. <br />Sec. 2. That said bonds shall be dated September 1, 1968, and shall bear <br />interest now estimated at 3-1%27, per annum, payable semi-annually and shall <br />mature in ten (10) annual installments after their issuance. <br />Sec. 3. That for the purpose of raising money in anticipation of the <br />levy of special assessments attd in anticipation of the issuance of bonds in <br />anticipation of the collection of special assessments for the improvement of <br />the above naned street by construction and installatio¢ of a sidewalk and <br />appurtenances, to pay the property owners• share of the cost and expense of <br />said improvement, it is hereby declared necessary to issue and there shall be <br />issued a note of said Village in the amount of $ ?'?' •<< <br />Sec. 4. That such anticipatory note in the anount aforesaid shall be <br />issued bearing interest at such rate not exceeding 3-1/47. per annun as may be <br />fixed by the Village Clerk-Treasurer in his award of said note at private sale, <br />such interest to be payable.at maturity. Said note shall be dated as of iasuance <br />and shall mature on or be£ore otte year from such date. <br />Sec. 5. Such note shall be executed by the Mayor and pillage Clerk-Treasurer <br />and bear the aeal of the corporation. Zt shall be payable at the ofEice of the <br />Clerk-Treasurer of the Village of Mayfield, Ohio; it shall express upon its face <br />the purpose for which it is issued and that it is issued pursuant to this ordinance.